As of 2024, the chemical and petrochemical sector's final consumption of electricity in the UK is forecasted to gradually decline over the next five years. From a consumption level of 13.76 thousand gigawatthours in 2024, it is projected to decrease annually by a modest margin, reaching 12.83 thousand gigawatthours by 2028. The consistent downward trend suggests an average annual decline rate, or CAGR, which indicates sector-level shifts likely driven by increased energy efficiency and a transition toward renewable energy sources.
Looking forward, trends to watch for include technological advancements in energy-efficient processes and potential regulatory changes aimed at reducing carbon footprints. The push towards sustainability may increasingly influence operational strategies and energy consumption patterns within the industry.
